Funko (NASDAQ:FNKO) Sees Unusually-High Trading Volume – Should You Buy?

Funko, Inc. (NASDAQ:FNKO) saw an uptick in trading volume on Tuesday . 673,846 shares changed hands during trading, an increase of 28% from the previous session’s volume of 526,147 shares.The stock last traded at $11.30 and had previously closed at $11.42.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson restated a “buy” rating and issued a $16.00 price objective on shares of Funko in a report on Thursday, November 14th. B. Riley boosted their price target on shares of Funko from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus increased their price objective on shares of Funko from $9.00 to $10.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Funko Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.96. The company has a market capitalization of $622.84 million, a price-to-earnings ratio of -23.79 and a beta of 1.22. The firm has a 50-day simple moving average of $11.58 and a two-hundred day simple moving average of $10.51.

Insider Buying and Selling

In other Funko news, Director Michael C. Lunsford sold 7,361 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $12.02, for a total transaction of $88,479.22. Following the completion of the transaction, the director now owns 108,613 shares in the company, valued at $1,305,528.26. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy D. Daw sold 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $120,000.00. Following the completion of the sale, the insider now owns 6,362 shares in the company, valued at $76,344. The trade was a 61.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,805 shares of company stock valued at $1,366,661 in the last ninety days. Company insiders own 4.81% of the company’s stock.

Hedge Funds Weigh In On Funko

Several large investors have recently bought and sold shares of FNKO. Massachusetts Financial Services Co. MA lifted its position in shares of Funko by 21.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,546,036 shares of the company’s stock worth $34,609,000 after buying an additional 619,114 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Funko by 160.1% in the 2nd quarter. Marshall Wace LLP now owns 1,062,968 shares of the company’s stock valued at $10,375,000 after purchasing an additional 654,359 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Funko by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 807,760 shares of the company’s stock valued at $9,873,000 after purchasing an additional 13,002 shares during the period. Assenagon Asset Management S.A. purchased a new position in Funko during the 2nd quarter worth approximately $6,996,000. Finally, American Century Companies Inc. increased its position in Funko by 81.1% during the second quarter. American Century Companies Inc. now owns 250,121 shares of the company’s stock worth $2,441,000 after buying an additional 112,007 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Company Profile

Funko, Inc, a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides media and entertainment content, including movies, television (TV) shows, video games, music, and sports; figures, handbags, backpacks, wallets, apparel, accessories, plush products, homewares, and digital non-fungible tokens; and art prints and vinyl records, posters, soundtracks, toys, books, games, and other collectibles.